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#my2k. >> fiscal cliff was a problem washington created. this is not the 2008 financial crisis where the markets started to crumble and washington had to act. they created this problem. i think one of the reasons why this is so closely watched and we're all so intrigued in it is there's a much bigger fight on the horizon looming, which is the debt limit. part of the reason why people are watching is if they blow up fiscal cliff, if we go over, if this is chaos, if they punt, if it's a small deal, it's going to be a sign that we're not going to get the deficit reduction that we need. >> and that's the challenge for the president. because, yes, he does have all the leverage. we talked about that. he won the election of course. but this is a test of leadership, and the american public does not want to go over that cliff because, by the way, they want the tax cut for the middle class to remain in place. that's the ultimate cliff there and the bottom line is we don't want those to expire. gwen: as we approach it we begin to try to read the tea l
#my2k. >> fiscal cliff was a problem washington created. this is not the 2008 financial crisis where the markets started to crumble and washington had to act. they created this problem. i think one of the reasons why this is so closely watched and we're all so intrigued in it is there's a much bigger fight on the horizon looming, which is the debt limit. part of the reason why people are watching is if they blow up fiscal cliff, if we go over, if this is chaos, if they punt, if it's a...
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fiscal cliff. but for some classes, it's been orientation time. that's when new senators learn their way around the capitol. among them is 32-year-old eric swalwell, an alameda county assistant d.a., he defended a fellow democrat in the district stretching from hayward to dublin. i spoke to swalwell earlier this evening from capitol hill. >> congressman eric swalwell, thanks for joining us. >> happy to be here. >> you've been to orientation for a couple weeks. what have you learned? >> this is the end of the second week of orientation. i was here right after the election. now we know where our office is going to be, we've hired staff and i've learned how the house floor proceedings worked, you know, how we can best represent the people in the 15th congressional district. we have a lot of ideas i learned in the campaign, and now we know where to take those ideas, how to make them go through the legislative process and get them on the floor, so hopefully my colleagues and i can work together to help
fiscal cliff. but for some classes, it's been orientation time. that's when new senators learn their way around the capitol. among them is 32-year-old eric swalwell, an alameda county assistant d.a., he defended a fellow democrat in the district stretching from hayward to dublin. i spoke to swalwell earlier this evening from capitol hill. >> congressman eric swalwell, thanks for joining us. >> happy to be here. >> you've been to orientation for a couple weeks. what have you...
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, the so-called "fiscal cliff". the president took to the road, while republicans warned there's a deadlock in efforts to reach a deficit deal. >> now, of course, santa delivers everywhere. i've been keeping my own naughty and nice lists for washington. >> warner: the president chose a seasonal setting, a toy factory in hatfield, pennsylvania, and holiday imagery to press again for extending tax cuts for the middle class. >> if congress does nothing, every family in america will see their income taxes automatically go up on january 1. i mean, i... i'm assuming that doesn't sound too good to you. >> no. >> that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> warner: in washington, republicans portrayed the road trip as so much humbug, at a time, they said, when negotiations are going nowhere. >> there's a stalemate. let's not kid ourselves. >> warner: house speaker john boehner said republicans remain willing to raise revenues, but not by raising tax rates. and he charged the whi
, the so-called "fiscal cliff". the president took to the road, while republicans warned there's a deadlock in efforts to reach a deficit deal. >> now, of course, santa delivers everywhere. i've been keeping my own naughty and nice lists for washington. >> warner: the president chose a seasonal setting, a toy factory in hatfield, pennsylvania, and holiday imagery to press again for extending tax cuts for the middle class. >> if congress does nothing, every family in...
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. >> reporter: so the first week or real bargaining on the fiscal cliff ended with a loud chorus of "no's." and there are only a few more weeks left to get to yes on some of the toughest policy issues dividing democrats and republicans. darren gersh, "n.b.r.," washington. >> tom: many companies aren't waiting on washington to reach an agreement on taxes and spending. they're taking action now to pay shareholders, by declaring special dividends. today, whole foods became the latest in a slew of firms opting for one-time payouts. suzanne pratt reports on what's behind these investor pay-days. >> reporter: costco is doing it. brown forman-- the maker of jack daniels and finlandia is also doing it. today, even whole foods is finding it appetizing. they've all announced special dividends, eager to reward their shareholders with a nice check before expected tax increases happen next year. >> current law says that qualified dividend income tax rates are at 15%. and, if no legislation is passed between now and then end of the year, those rates would go up to as high as 43.4%. >> companies jus
. >> reporter: so the first week or real bargaining on the fiscal cliff ended with a loud chorus of "no's." and there are only a few more weeks left to get to yes on some of the toughest policy issues dividing democrats and republicans. darren gersh, "n.b.r.," washington. >> tom: many companies aren't waiting on washington to reach an agreement on taxes and spending. they're taking action now to pay shareholders, by declaring special dividends. today, whole foods...